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MIDD Middleby

The Middleby Corporation is a global leader in the foodservice equipment industry. The company develops, manufactures, markets and services a broad line of equipment used in the commercial foodservice, food processing, and residential kitchen equipment industries. The company's leading equipment brands serving the commercial foodservice industry include Anets®, APW Wyott®, Bakers Pride®, Beech®, BKI®, Blodgett®, Blodgett Combi®, Blodgett Range®, Bloomfield®, Britannia®, Carter-Hoffmann®, Celfrost®, Concordia®, CookTek®, Crown®, CTX®, Desmon®, Deutsche Beverage®, Doyon®, Eswood®, EVO®, Firex®, Follett®, frifri®, Giga®, Globe®, Goldstein®, Holman®, Houno®, IMC®, Induc®, Ink Kegs®, Inline Filling Systems®, Jade®, JoeTap®, Josper®, L2F®, Lang®, Lincat®, MagiKitch'n®, Market Forge®, Marsal®, Meheen®, Middleby Marshall®, MPC®, Nieco®, Nu-Vu®, PerfectFry®, Pitco®, QualServ®, RAM®, Southbend®, Ss Brewtech®, Star®, Starline®, Sveba Dahlen®, Synesso®, Tank®, Taylor®, Thor®, Toastmaster®, TurboChef®, Ultrafryer®, Varimixer®, Wells® Wild Goose® and Wunder-Bar®.

Company profile

Ticker
MIDD
Exchange
CEO
Timothy Fitzgerald
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
363352497

MIDD stock data

(
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Calendar

13 May 21
3 Aug 21
1 Jan 22
Quarter (USD)
Apr 21 Jan 21 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Middleby earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 309.33M 309.33M 309.33M 309.33M 309.33M 309.33M
Cash burn (monthly) (positive/no burn) 5.98M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 24.12M n/a n/a n/a n/a
Cash remaining n/a 285.21M n/a n/a n/a n/a
Runway (months of cash) n/a 47.7 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
16 Jul 21 Bryan E. Mittelman Common Stock Payment of exercise Dispose F No No 183.27 555 101.71K 14,609
10 Mar 21 Martin M Lindsay Common Stock Payment of exercise Dispose F No No 168.25 515 86.65K 75,366
10 Mar 21 Bryan E. Mittelman Common Stock Payment of exercise Dispose F No No 168.25 511 85.98K 15,164
10 Mar 21 III James K Pool Common Stock Payment of exercise Dispose F No No 168.25 440 74.03K 28,769
10 Mar 21 Steve Spittle Common Stock Payment of exercise Dispose F No No 168.25 448 75.38K 13,962

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 343 326 +5.2%
Opened positions 63 64 -1.6%
Closed positions 46 20 +130.0%
Increased positions 99 87 +13.8%
Reduced positions 114 125 -8.8%
13F shares
Current Prev Q Change
Total value 9.24B 7.91B +16.7%
Total shares 55.91M 61.34M -8.9%
Total puts 45.05K 144.1K -68.7%
Total calls 79.1K 676K -88.3%
Total put/call ratio 0.6 0.2 +167.2%
Largest owners
Shares Value Change
Vanguard 5.01M $831.06M +2.1%
BLK Blackrock 4.72M $781.98M +3.6%
Wellington Management 4.62M $765.08M +167.0%
Goldman Sachs & Co 4.03M $519.46M 0.0%
EdgePoint Investment 3.85M $637.83M -19.4%
JPM JPMorgan Chase & Co. 2.55M $423.19M -10.3%
Sarasin & Partners 1.81M $300.72M +39.4%
Victory Capital Management 1.71M $283.02M +2310.4%
Alliancebernstein 1.49M $246.67M +36.4%
TROW T. Rowe Price 1.37M $227.08M +17.9%
Largest transactions
Shares Bought/sold Change
GS Goldman Sachs 444.3K -3.59M -89.0%
Wellington Management 4.62M +2.89M +167.0%
BNS Bank Of Nova Scotia 436.67K -2.13M -83.0%
Victory Capital Management 1.71M +1.64M +2310.4%
JHG Janus Henderson 7.73K -1.32M -99.4%
Norges Bank 0 -934.89K EXIT
EdgePoint Investment 3.85M -927.96K -19.4%
Natixis 0 -735.27K EXIT
MKFCF Mackenzie Financial 0 -645.49K EXIT
BAC Bank Of America 785K +562.87K +253.4%

Financial report summary

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Risks
  • Current and future economic conditions could adversely affect the company’s business and financial performance.
  • Uncertainty surrounding the terms of the United Kingdom’s withdrawal from the European Union may have a negative effect on global economic conditions, financial markets or the Company’s business.
  • The company is subject to currency fluctuations and other risks from its operations outside the United States.
  • The COVID-19 pandemic has, and likely will continue to, adversely impact and pose risks to the company, the nature and extent of which are highly uncertain and unpredictable.
  • The company’s level of indebtedness could adversely affect its business, results of operations and growth strategy.
  • The company’s current credit agreement limits its ability to conduct business, which could negatively affect the company’s ability to finance future capital needs and engage in other business activities.
  • Fluctuations in interest rates could adversely affect the company's results of operations and financial position.
  • The company has a significant amount of goodwill and indefinite life intangibles could suffer losses due to asset impairment charges.
  • The company's defined benefit pension plans are subject to financial market risks that could adversely affect the company's results of operations and cash flows.
  • The company faces intense competition in the commercial foodservice, food processing, and residential kitchen equipment industries and failure to successfully compete could impact the company’s results of operations and cash flows.
  • The company is subject to risks associated with developing products and technologies, which could delay product introductions and result in significant expenditures.
  • The company depends on key customers for a material portion of its revenues. As a result, changes in the purchasing patterns or loss of one or more key customers could adversely impact the company’s operating results.
  • Price increases in some materials and disruptions in supply could affect the company’s profitability.
  • The company faces risks related to health epidemics and other widespread outbreaks of contagious disease, which could significantly disrupt its operations and impact its operating results.
  • The company may be the subject of product liability claims or product recalls, and it may be unable to obtain or maintain insurance adequate to cover potential liabilities.
  • An increase in warranty expenses could adversely affect the company’s financial performance.
  • The company’s financial performance is subject to significant fluctuations.
  • The company may be unable to manage its growth.
  • The company’s acquisition, investment and alliance strategy involves risks. If the company is unable to effectively manage these risks, its business will be materially harmed.
  • An inability to identify or complete future acquisitions could adversely affect future growth.
  • Expansion of the company’s international operations involves special challenges that it may not be able to meet. The company’s failure to meet these challenges could adversely affect its business, financial condition and operating results.
  • The impact of future transactions on the company’s common stock is uncertain.
  • The company’s business could suffer in the event of a work stoppage by its unionized labor force.
  • The company depends significantly on its key personnel.
  • The company may not be able to adequately protect its intellectual property rights, which may materially harm its business.
  • Any infringement by the company of a third party's patent rights could result in litigation and adversely affect its ability to provide, or could increase the cost of providing, the company’s products and services.
  • The company may be subject to information technology system failures, network disruptions, cybersecurity attacks and breaches in data security, which may materially adversely affect the company’s operations, financial condition and operating results.
  • The company may be subject to litigation, tax, and other legal compliance risks.
  • The company’s reputation, ability to do business, and results of operations may be impaired by the improper conduct of any of its employees, agents, or business partners.
  • The company is subject to potential liability under environmental laws.
  • Unfavorable tax law changes and tax authority rulings may adversely affect financial results.
  • The trading price of the company's common stock has been volatile, and investors in the company's common stock may experience substantial losses.
Management Discussion
  • (1)The company's fiscal year ends on the Saturday nearest to December 31.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Bad
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